U.S. Crypto Industry: Promising Future, but Regulatory Clarity Crucial

The crypto industry's future in the U.S. is seen as promising, but not guaranteed, according to a recent survey of industry leaders. The survey, conducted at the CfC St. Moritz 2025 conference, gathered opinions from over 230 executives, including the CEOs of Binance and Ripple, the chair of the CFTC, and executives from major TradFi firms like BlackRock, Fidelity, and Franklin Templeton.

Sixty-one percent of respondents believe the biggest opportunities lie in the U.S., followed by the APAC region and the Middle East. However, the U.S. currently ranks behind the UAE, Singapore, Switzerland, Hong Kong, the EU, and the UK in terms of favorable jurisdictions for crypto legislation. Developers' decisions to move or stay in the U.S. will be crucial for the country to leapfrog others in the crypto space.

Crypto ETFs in the U.S. are also seen as a driver of growth, with 57% of respondents expecting such wrappers around the top 20 coins in the near future. Other notable findings include:

• 76% of respondents view the global macroeconomic backdrop as highly favorable or conducive for crypto growth.
• The most interesting opportunities are seen in fintech, payments, and trading tech, with tokenization and stablecoins as a close second.
• About a third of respondents expect TradFi institutions to dominate the crypto space, while another third predicts a 50/50 split between retail and TradFi.

Despite the optimism, 70% of respondents believe supervisory scrutiny will remain intense or even increase. Ex-CFTC Chair J. Christopher Giancarlo noted that ending bad policy is easier than creating good policy for the new U.S. administration.

As the crypto industry continues to evolve, the U.S. has the potential to become a major player, but regulatory clarity and a favorable legislative environment will be crucial for its success.